Senores Pharmaceuticals Ltd. · NSE:SENORES
Senores Pharmaceuticals — Q3 FY26 Earnings Presentation
39 slides from Senores Pharmaceuticals's earnings presentation, Jan 20, 2026
Slide 1: Intimation letter to stock exchanges on Investor Presentation
Date: January 20, 2026 To, To, Sr. General Manager Sr. General Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 BSE
Slide 2: Investor Presentation January 2026
Investor Presentation January 2026
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Senores Pharmaceuticals Limited (the “Company” / “SPL”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscri
Slide 4: Financial & Operational Highlights Q3 & 9M FY26
Financial & Operational Highlights Q3 & 9M FY26 Private & Confidential
Slide 5: Key Highlights Q3 & 9MFY26
Key Highlights Q3 & 9MFY26 Robust Cash Flow Operations Cash Flow from Operations for Q3FY26 stood at ~Rs. 19 crs & for 9MFY26 it stood at ~Rs. 51 crs, significant growth over last year. Our EBITDA-to-Operating Cash Flow conversion has improved 1 46 approved ANDAs covering 137 strengths, with over 10
Slide 6: Regulated Market Owned Product Portfolio & Visibility
Regulated Market Owned Product Portfolio & Visibility Owned ANDA’s Corresponding ANDA Products* Huge Opportunity Q3FY25 Q3FY26 Q3FY25 Q3FY26 Approved ANDAs 12 46 24 137 Scaled up Own ANDAs by 4x and Corresponding ANDA products by 6x over the last 12 months Commercialized ANDAs 11 18 22 35 28 ANDAs w
Slide 7: CDMO / CMO & Emerging Market Opportunity
CDMO / CMO & Emerging Market Opportunity Products Corresponding ANDA Products* Huge Opportunity Q3FY25 Q3FY26 Q3FY25 Q3FY26 CDMO/CMO business focused on specialty, government supplies CDMO/ CMO and controlled substances. Commercialized Products 12 16 21 34 Uniquely positioned in USA & India to provi
Slide 8: Consolidated Financial Highlights – Q3 & 9M FY26
Consolidated Financial Highlights – Q3 & 9M FY26 Total Income (Rs. Crs)* EBITDA (Rs. Crs) PAT (Rs. Crs) +65% +87% +110% 474.3 137.7 84.9 64% 287.4 86% 105% 73.7 40.4 174.6 54.0 33.6 106.4 29.1 16.4 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25 9MFY26 Gross Profit Margi
Slide 9: Segmental Financial Highlights – Q3 & 9M FY26
Segmental Financial Highlights – Q3 & 9M FY26 Segment Revenue (INR Cr) Q3FY26 Q3FY25 Y-o-Y Q2FY26 Q-o-Q 9MFY26 9MFY25 Y-o-Y Regulated Markets 112.7 70.2 60.5% 106.9 5.4% 309.6 180.5 71.5% Emerging Markets 38.4 26.1 47.5% 31.7 21.3% 99.1 84.6 17.1% Branded Generics 10.5 1.5 588.6% 11.9 -12.2% 30.6 4.
Slide 10: Consolidated Profit & Loss Account – Q3 & 9M FY26
Consolidated Profit & Loss Account – Q3 & 9M FY26 Consolidated P&L (Rs. Crs) Q3 FY26 Q3 FY25 Y-o-Y 9M FY26 9M FY25 Y-o-Y Revenue from Operations 164.9 103.0 446.2 280.8 Other Operating Income 9.7 3.4 28.1 6.7 Total Income 174.6 106.4 64.1% 474.3 287.4 65.0% Total COGS 67.0 40.7 185.5 123.2 Gross Pro
Slide 11: Update on Utilization of Funds from IPO
Update on Utilization of Funds from IPO Amount as proposed in the Amount utilized as on Dec Amount Unutilized as on Dec Sr. No. Object as per Offer Document Offer revised 31, 2025 31, 2025 (Rs. Crs) (Rs. Crs) (Rs. Crs) Investment in one of our Subsidiaries, Havix, to fund capital expenditure 1 requi
Slide 12: Update on Acquisition of Apnar Pharma Private Limited
Update on Acquisition of Apnar Pharma Private Limited
Slide 13: Deal Contours
5 Deal Contours Acquired Apnar Pharma Private Limited & 5 ANDAs (75% stake acquired, balance 25% to be acquired by Q2FY27) • Apnar Pharma, incorporated on 12th December 2014, is a privately held pharmaceutical company specializing in the licensing, development, and manufacturing of generic formulati
Slide 14: Strategic Rationale & Synergies
Strategic Rationale & Synergies Immediate access to regulated markets (US, UK, Canada, Brazil, Australia, New Zealand & Others) through existing approvals and infrastructure Revenue and cost synergies through cross-selling and shift of select products Expansion of product portfolio manufacturing to
Slide 15: About Senores Pharmaceuticals Limited
About Senores Pharmaceuticals Limited Private & Confidential
Slide 16: Introduction to Senores Pharma
Introduction to Senores Pharma Brief Overview At a Glance Global Research driven Formulation Focused company engaged in developing & manufacturing of pharmaceutical products predominantly for the Regulated Markets of the US, Canada & UK across various therapeutic areas Niche Product Identification C
Slide 17: Business Segments
Business Segments 65% 21% 7% 9M FY26 Income Rs. 474 Crs Regulated Markets Emerging Markets Others Regulated Markets Business Emerging Markets Business Develop & manufacture pharmaceutical products for the Primarily serves the US, Canada and United Kingdom Emerging Markets USFDA approved facility in
Slide 18: Distinct Specialty & Complex Product Portfolio Built in a Short Span
1 Distinct Specialty & Complex Product Portfolio Built in a Short Span for Regulated Markets Demonstrated Capability to propel Products from Conception to Commercialization Product Identification Product Development Commercial Data Analysis – IQVIA, R&D to establish API Partner Finalization Concurre
Slide 19: Key Strengths of the Company
Key Strengths of the Company 1 Distinct specialty and complex product portfolio built in a short span for Regulated Markets 2 Long-term marketing arrangements with pharmaceutical companies in the Regulated Markets 3 Presence in the Emerging Markets with portfolio, including specialty and complex pro
Slide 20: Key Events & Milestones
Key Events & Milestones Acquired a 51% stake in Zoraya Pharmaceuticals, LLC (Nov 2025) Acquired 75% stake in Apnar Pharmaceuticals Pvt. Ltd Consolidated presence in emerging Commenced manufacturing activities at Incorporated a wholly owned subsidiary, markets by acquiring shares in its greenfield AP
Slide 21: Presence in Regulated Markets through Long-term marketing arrangements
2 Presence in Regulated Markets through Long -term marketing arrangements MARKETED PRODUCTS CDMO / CMO Business Model Business Model Identify, Develop & Commercialize specialty & complex Customized formulation, development & manufacturing niche products in mid - market range capabilities for custome
Slide 22: Presence in the Emerging Markets with Portfolio Including Specialty and Complex Products
3 Presence in the Emerging Markets with Portfolio Including Specialty and Complex Products Special Focus Niche & Specialty patented products in the US with early launch 576 opportunity in Emerging Markets 113 South East 40+ Commonwealth of Asia Countries Sugammadex Ferric Independent Marketed States
Slide 23: Corporate Structure
Corporate Structure Group holding company based in India Houses Domestic Branded Generics business & API business Senores Pharmaceuticals Inc. Havix Group Inc Ratnatris Pharmaceuticals Pvt. Ltd. Apnar Pharma Pvt. Ltd.- caters to Marketing cum ANDA Caters to Regulated Market Caters to Emerging Market
Slide 24: Professional and Dedicated Management Team (1/2)
6 Professional and Dedicated Management Team (1/2) Swapnil Jatinbhai Shah Sanjay Shaileshbhai Majmudar Deval Rajnikant Shah Chairman & Non-Executive, Non- Promoter & Managing Director Whole-Time Director & CF O Independent Director ▪ 17+ years of experience in the pharma sector ▪ 40+ years of experi
Slide 25: Professional and Dedicated Management Team (2/2)
6 Professional and Dedicated Management Team (2/2) Jignesh Desai Gautam Shah Manohar Lalge President - Research & President - Finance President - US Operations Development ▪ 30+ years of experience in finance and accounting ▪ 30+ years of experience in pharmaceutical ▪ 5+ years of experience in phar
Slide 26: Strong R&D Capabilities Driving Differentiated Product Portfolio
Strong R&D Capabilities Driving Differentiated Product Portfolio Identify R&D Site 1 - USA Oral Oral ▪ In-House R&D in US ▪ Internal research ORS Injectables API Solids Liquids for Controlled ▪ Information available Substances on subscribed databases R&D Site 2 - India Team ▪ Helps in dossier prepar
Slide 27: Accredited Manufacturing Facilities (1/2)
5 Accredited Manufacturing Facilities (1/2) Atlanta Facility Ahmedabad, Chhatral Facility Facility 378,943 Sq. Ft. Total Area 2 Manufacturing Lines 12 185,300 Sq. Ft. Manufacturing Lines Total Area OSD 4 Dosage Forms 1.2 Bn units Annual Installed General Oral Beta Lactum Capacity Strong Regulatory T
Slide 28: Accredited Manufacturing Facilities (2/2)
Accredited Manufacturing Facilities (2/2) Apnar Pharma Plant ✓ Manufacturing facility commenced in 2021 & USFDA Approval received in September 2022 ✓ 2 land parcel available of total land area of ~49,250 Sq. Mts. Facility constructed on 1 plot (~4,500 Sq. Mts) with construction of ~40,000 Sq. Ft. La
Slide 29: Growth Strategies
Growth Strategies Private & Confidential
Slide 30: Key Strategies
Key Strategies Inorganic growth Significantly enhance market through synergistic presence in North America & acquisitions other Regulated Markets Integrated approach by Launch products with the enhancing capabilities for potential of NDA approval in backward integration the US Strategic alliance for
Slide 31: Enhance Market Presence of Marketed Products in North America and Other Regulated Markets
Enhance Market Presence of Marketed Products in North America and Other Regulated Markets US accounts for 43% of the global pharma market, 56% of the regulated market & 91% Persistent drug shortage calls for an of North America Market increased supply of generic drugs Global pharma market by classif
Slide 32: Entering into Strategic Alliance for CMO/CDMO in Regulated Markets
Entering into Strategic Alliance for CMO/CDMO in Regulated Markets CDMO market growing faster than the pharma market Strategic alliance for CMO/CDMO in Regulated Markets which is growing at 7.7% US CDMO/CMO market (USD bn) The dependence on CDMO/CMO’s has increased as they offer 7.7% Appended Manufa
Slide 33: Expanding into New Regulated & Emerging Markets
Expanding into New Regulated & Emerging Markets Regulated & Emerging markets witnessing strong growth Global pharma market by classification (USD bn) Emerging pharma market by Product (2028F) Regulated pharma market by Product (2028F) Regulated Emerging Innovator Generic Generic Innovator 541.0 376.
Slide 34: Enhancing Capabilities for Backward Integration
Enhancing Capabilities for Backward Integration Indian API export market to grow at a CAGR of 8.4% Pursuing an integrated approach for greater backward integration API exports (USD bn) Setup Greenfield unit - Increase API manufacturing capacity CAGR: 8.4% Proposed from 25 MTPA to 169 MTPA 7.1 Expans
Slide 35: Industry Overview
Industry Overview Private & Confidential
Slide 36: Global Pharma Market
Global Pharma Market Global pharma market is expected to grow at …regulated market will continue to dominate the US continues to exert influence on Global pharma market 6.6% from 2023-28… global pharma market Global pharma market by product type (USD bn) Global pharma market by region (USD bn) Share
Slide 37: Regulated Pharma Market
Regulated Pharma Market Regulated markets to dominate the global pharmaceutical sector, driven by their access to a growing innovative drug market & a thriving generics market Regulated markets constitute 77% of the global North America accounts for 62% of regulated New generics and patent expiratio
Slide 38: Emerging Pharma Market
Emerging Pharma Market Emerging pharma market Overview of India pharma market Emerging markets to outpace developed ones… IPM is amongst the fastest growing in the Oral solids will dominate IPM world… Emerging pharma market size (USD bn) Indian pharma market size (USD bn) Indian pharma market by dos
Slide 39: Senores Pharmaceuticals Limited – Contact Us
SENORES PHARMACEUTICALS LIMITED CONTACT US Senores Pharmaceuticals Limited Strategic Growth Advisors Private Limited CIN: L24290GJ2017PLC100263 CIN: U74140MH2010PTC204285 Mr. Deval Shah – Whole Time Director & CFO Mr. Sagar Shroff / Mr. Tanay Shah sagar.shroff@sgapl.net / tanay.shah@sgapl.net +91 98
Senores Pharmaceuticals — Q3 FY26 Earnings Presentation on 6ix